The day that a new homeowner closes on their new property is one of the most exciting days they’ll experience in their lives. Especially as a first-time homeowner, they will finally feel the supreme satisfaction of knowing that their home is truly theirs. They have escaped from under the thumb of rental agreements and now have a space that they can call their own. Most home buyers look to closing day with great anticipation.Read more

Money has its own way of flowing into every one’s life through its demanding as well as out of control way. Handling money has always made people bestir as well as weak in their knees. It is kind of an invisible relationship human share with money. In previous times transactions of money was manual rather then computerized. In that times people has to use more of their intelligence and physical self rather than digitization. Read more

In these relatively difficult economic times, people are much more reticent when it comes to sending money abroad. Part of the reason for this is that people are unsure about what the process involves, and the level of security that specialists offer. Added to this, people are worried that at the end of the day they won’t receive the best exchange rates. Read more

In pursuance of sub-rules (3) and (5) of rule 6 of the Chartered Accountants (Election to the Council) Rules, 2006 specified under the Chartered Accountants Act, 1949 read with regulation 134 of the Chartered Accountants Regulations, 1988, it is hereby notified that the list of members eligible to vote (i.e., List of Voters) from the various regional constituencies for elections to the Twenty First Council and Twentieth Regional Councils of the Institute will be available on payment of Rs. 350/- per copy for any of the five regional constituencies from the office of the Institute at ICAI Bhawan, Indraprastha Marg, New Delhi 110 002 effective from 3rd September, 2009 (afternoon).

Dubai, emirate of the UAE, had accumulated $80 billion of debt by expanding in banking, real estate and transportation. S&P had placed the ratings of four Dubai-based banks on negative outlook due to their exposure to Dubai World. It now wants to restructures Dubai World, the conglomerate that spearheaded the emirate’s breakneck growth.

G20 leaders cannot solve all of the world’s economic woes on April 2, no matter how high British Prime Minister Gordon Brown builds expectations for a landmark financial summit that he will host in London.

As Angel Gurria, head of the Organization for Economic Co-operation and Development, describes it: “There is no ‘open sesame’. We’re not talking about pulling rabbits out of hats.” Read more

ICAI Council Clears Two More Auditing Standards to Enhance Quality of Audits

The Council of the Institute of Chartered Accountants of India at its 286th meeting held on March 8, 2009 cleared two more Standards on Auditing (SAs), i.e., Revised SA 500, Audit Evidence and SA 720, The Auditor’s Responsibility in Relation to Other Information in Documents Containing Audited Financial Statements in the direction of enhancing the quality of audits. Read more

Ramalinga Raju and his brother Rama Raju, accused of committing a Rs40 billion fraud that threaten to shake the very foundation of Satyam Computers, are in jail. The government had appointed Tarun Das, T N Manoharan and S Balkrishna Mainak, on Satyam’s board, which already had Deepak Parekh, Kiran Karnik and C Achuthan.Read more

Two types: short-term loans are those which are payable within a short duration of time (within one or two months), long-term loans are those which are payable after years. Personal Loans: loans which are required by clients for their personal use.